CEO's Message Oct 2015
Category CEO's Message
As you would have already heard, Durban has been awarded the 2022 Commonwealth Games. Not only is this announcement testament to the considerable growth that the city of Durban has already achieved, but it is also extremely exciting for Durban’s future - its infrastructure, job prospects, tourism market, transport system and, most significantly, its property market.
Reports show that between 1.2 and 1.4 million local and foreign visitors are expected to attend the Commonwealth Games over an 11 day period. This is not taking into account the millions of viewers across the globe who will be watching The Games on television. In all likelihood, Durban will never get a better opportunity to showcase all that it has to offer, and to generate a desire to invest in the city.
The fact that R20 billion will be invested in Durban ensures that the infrastructure and facilities will be of a world-class standard. These improvements will undoubtedly elevate Durban’s appeal both nationally and internationally and bodes extremely well for the property market and economy as a whole.
Furthermore an Economic Impact Assessment has revealed that hosting The Games will translate into GDP growth of R11 billion, and create approximately 20 000 direct and indirect jobs. History has shown that when the economy thrives then the property market performs well.
Durban’s time is now! Over the next 10 years it is destined to become a sporting mecca, business powerhouse and the ultimate lifestyle destination – potentially the most well-structured, advanced city in the country. This announcement is extremely significant for the Durban property market.
A major coup for us is the fact that Tyson Properties KwaZulu Natal has been awarded affiliate status to Christie's International Real Estate, the world's leading luxury real estate network and a subsidiary of Christie's auction house, making us the only real estate agency in the province with partner offices in each of the previous Commonwealth Games host cities.
The period leading up to and beyond the 2022 Commonwealth Games is undoubtedly going to be a revitalizing period for all those involved with in property. As a company at the forefront of property, we look forward to embracing this period, and enjoying the success that we, together with Durban, are destined to achieve.
Kind regards,
Chris Tyson
Author: Tyson Properties
